The Inflation Reduction Act (IRA) celebrates its second anniversary in August, showcasing its potential impact on the clean energy industry. So far in 2024, the legislation has facilitated $12.6 billion in private investment and the announcement of 41 major clean energy projects. The IRS has issued crucial guidance on the IRA's provisions, including prevailing wage and apprenticeship requirements, tax credit transferability, technology-neutral credits like 48E and 45Y, and the domestic content bonus credit. However, final guidance on the 45V hydrogen tax credit is still pending, causing some uncertainty in the sector. The finalized tax credit transferability guidance has led to a significant increase in clean energy tax credit transactions, with estimates indicating transactions exceeding $7-9 billion in the past year. The IRA is expected to drive a manufacturing and generation boom in the clean energy sector, with new technology-neutral credits poised to replace existing ones by the end of the year. Despite some disagreements in the industry regarding trade policy approaches, the IRA is seen as a long-term stimulus for clean energy development. The industry is adapting to challenges such as high interest rates by focusing on revenue growth and improving margins. Clean energy developers are exploring new strategies like connecting new generation directly to industrial facilities to expedite project timelines and enhance economics. Additionally, new funding opportunities through the IRA are starting to flow, with programs like the EPA's Greenhouse Gas Reduction Fund and Climate Pollution Reduction Grants supporting climate action plans at the state level. Looking ahead to 2025, regardless of the election outcome, the states are expected to play a central role in the implementation and success of the IRA. The legislation's ability to spur private investment, drive market growth, and provide funding opportunities highlights its positive impact on the clean energy industry.